We've seen a pretty substantial deterioration in rates in the first 3 days of this week, but are trying to get some of those losses back today. Probably the biggest reason we've seen rates increase is that earning season has started and a number of big name companies are beating expectations (Intel, Meryl Lynch and others). This has moved money out of bonds and into stocks, cause the increase in rates.
Look for things to move back to bonds as traders look to take some profits off the table, there is still a lot of uncertainty that the economy will be turning any time soon, I think some of these companies are benefiting from low expectations.
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